GWM Tank 400 Hi4-Z PHEV: What Australian Salary Packers Need to Know
The GWM Tank 400 Hi4-Z PHEV looks set for Australia. Here's what that means for novated lease eligibility and potential tax savings. Read more.
A new plug-in hybrid contender is heading toward Australian showrooms. According to a brief drive review published by EVcentral AU [Source 1], the GWM Tank 400 Hi4-Z PHEV is a torque-heavy off-road-leaning PHEV that's shaping up as a direct rival to the Denza B5 — and it's described as "likely for Australia." That matters if you're an employee thinking about your next novated lease vehicle, because PHEVs occupy a specific and important place in Australia's current FBT rules.
What this means for novated lease customers
Under current Australian tax law, battery electric vehicles (BEVs) priced below the luxury car tax threshold attract a full FBT exemption when held on a novated lease. PHEVs are treated differently — they currently fall outside that full exemption and are subject to standard FBT treatment. That distinction is worth understanding before you get excited about a headline spec sheet.
That said, novated leasing a PHEV still delivers real pre-tax advantages compared to buying outright — you're still using pre-tax salary to cover repayments and running costs, which reduces your taxable income. The gap between a PHEV and a BEV in novated lease terms comes down to whether you value the FBT exemption heavily, or whether the vehicle itself — range, capability, towing — suits your actual life better than any current exempt BEV can.
The Tank 400 Hi4-Z sits in the large PHEV SUV segment alongside vehicles like the Mitsubishi Outlander PHEV and the incoming Denza B5. If it lands at a price point below the luxury car tax threshold (currently $91,387 for fuel-efficient vehicles in 2024–25, per ATO guidance), the novated lease numbers become considerably more interesting. Pricing has not been confirmed for Australia at the time of writing.
Common questions
Is the Tank 400 Hi4-Z PHEV eligible for the FBT exemption on a novated lease?
Based on current legislation, PHEVs do not qualify for the same FBT exemption that applies to battery electric vehicles. The Tank 400 Hi4-Z is a plug-in hybrid, so standard FBT rules would apply. A novated lease still offers pre-tax salary benefits — just not the full exemption available on BEVs.
When is the Tank 400 Hi4-Z PHEV available in Australia?
As of the EVcentral AU drive review published May 2025, Australian availability is described as likely but not yet confirmed. No official launch date or local pricing has been announced.
Can I still save money novated leasing a PHEV compared to buying one outright?
Yes. Even without the FBT exemption, a novated lease lets you bundle repayments and running costs — fuel, registration, insurance, servicing — into pre-tax salary deductions. This reduces your taxable income and can result in meaningful savings depending on your income and marginal tax rate.
How does the Tank 400 compare to the Denza B5 for novated leasing purposes?
Both are large PHEVs and would be treated similarly under current FBT rules. The more relevant comparison for your novated lease will be final Australian pricing — whichever sits further below the luxury car tax threshold will generally produce better lease economics.
Should I wait for this vehicle or get into a BEV now to lock in the FBT exemption?
That depends on your needs, not just the tax treatment. The FBT exemption for BEVs is valuable but it's not permanent policy — it's subject to future budget decisions. If a BEV meets your driving requirements, the exemption is a genuine advantage right now. If you need towing capacity or extended range, a PHEV may suit your life better even with a different tax outcome. Talk to us and we'll run the real numbers for your situation.